reasons for bad trading - page 11. | Bitcointalksearch.org

Ziskinberg

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Quote from: Obito on May 17, 2021, 04:28:28 AM

Quote from: ?? on ??

For me, control emotion is something that people will need really long time to master it. Maybe with practice, technical analysis can be mastered. But control emotion to be not greed and panic is hard to do, even some traders who in years trading sometimes can't control their emotion and ended with lose their assets.

It's difficult because emotions are habits we formed when we are young and you know what they say, old habits die hard, yes it is hard to control emotion but I am sure that if you are smart enough, you can even disregard it and just move on and be patient, I think that being patient is easier than controlling your emotions.

It is nature as a human being, may we could change some but not the entire YOU. Because when struggles and difficulties had come, the true YOU will come out and act like a human being.

We can't the truth that trading is difficult, you will lose, you will win, and all of these things matter on our behavior as it basically affects our decision making. Because we all can control this (emotion), it for sure we all succeed and get rich but unfortunately, it is really impossible. And I think we don't need to stop it but just to be comfortable with what we doing.

gabbie2010

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Quote from: geegaw on May 16, 2021, 09:37:53 AM

Quote from: GreatArkansas on May 16, 2021, 04:39:24 AM

Quote from: desmodiAN on May 15, 2021, 05:20:28 AM

a. price went +20% up, we dont sell.

b. price went -25% down, we sell.
(....)

From what can I see here. It is just showing that a trader doesn't have a goal or plan before entering a trade. I already experienced this like in the scenario I am catching a dump and longing it without planning at all.
In that case, you entered on a trade without stop loss or a price target for that trade, which is really bad practice for a trader.

You are right, just looking at the numbers above, it is enough for us to evaluate the potential of an investor and a trader, a newcomer will always be in such a situation, even some people are stubborn with old concepts, they also often don't know how to sell at the right time and persist with greedy thoughts. Objectives should always be available, from profit to stop loss, chasing a bigger profit and a wrong guess is something many traders do but they didn't know this would bring a bad result

This is one of the major area which has been a setback to my trading, I closely watched a profitable trades which are already 15% to 20% in profits hoping to earn more profits dropping down to -10% , I couldn't control my emotions and greediness, I need to be disciplined and stick to a fix profit no matter how small 'a bird in hand worth two in the bush' there are instances when an already losing trade becomes profitable after I had close it with a loss, I hope to improved on these trading anomalies.

SacriFries11

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Quote from: ?? on ??

For me, control emotion is something that people will need really long time to master it. Maybe with practice, technical analysis can be mastered. But control emotion to be not greed and panic is hard to do, even some traders who in years trading sometimes can't control their emotion and ended with lose their assets.

All of us can be trade and make some good trades but many of us too didn't control our emotion well. Being greedy when the price goes up then didn't sell and sometimes people get lazy in analyzing the chart pattern and didn't research which token is good to buy and events that might trigger the price. I do trading but I admit that one of the reason that I lose my position in trading is that I'm not satisfied with my profit and being FOMO when the price goes rapidly up and didn't think that there might be a big crash ahead.

Obito

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Quote from: ?? on ??

For me, control emotion is something that people will need really long time to master it. Maybe with practice, technical analysis can be mastered. But control emotion to be not greed and panic is hard to do, even some traders who in years trading sometimes can't control their emotion and ended with lose their assets.

It's difficult because emotions are habits we formed when we are young and you know what they say, old habits die hard, yes it is hard to control emotion but I am sure that if you are smart enough, you can even disregard it and just move on and be patient, I think that being patient is easier than controlling your emotions.

desmodiAN

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Quote from: Ultegra134 on May 16, 2021, 12:36:01 PM

Mistakes are to be made, and we won't stop making them. I've seen the cliché being spread in the forum, that you've learned from experience and your mistakes, so you won't repeat them again. I only partly agree with that statement, trading is unpredictable...

True. You will learn many things while trading, but the market stays nearly unpredictable. You cant transfer your mistakes, because everything changes. Market conditions, players, price base levels, competitors, regulation. Its mass psychology. We can witness right now. Did anything new come up for bitcoin? Or did just persons offer their opinion about the proof of work energy usage?

The bad trading can still lead to yourself getting more calm or resistant to the waves. Even if you cannot predict anything, maybe after a while you are better at holding through.

sumant

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There are many reasons for bad trading, so many traders think something different before purchasing a coin but they don't held their plan to execute as they think. I mean bad planning is the main reason for bad trading. Coin has been purchased with good points then how we can doing a bad trade afterward. Stick to your plan get great success.

pawanjain

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Those reasons are probably right for most of the traders in the current crypto market.

Quote from: desmodiAN on May 15, 2021, 05:20:28 AM

thats why many books advice to trade in smaller steps. dont go with a gut feeling, set a goal and stick to it.

This is where many fail and the experts take their profits. Sticking to our strategy is an essential part of trading which many traders forget.
I have myself made some losses due to not to sticking to the target prices and have learned this the hard way.

Ultegra134

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Quote from: CaVO32 on May 15, 2021, 06:17:00 PM

Quote from: Ultegra134 on May 15, 2021, 03:38:48 PM

The main reasons for unsatisfactory trades is being impatience and the fear of missing out. I've come across both of them, I often found myself being impatient and selling too quickly, which lead into losing a decent profit in the long run, while I've also sold when the market was facing a crash. Sometimes, we're also affected by what others are doing, if for instance the forum is going nuts about Ethereum's crash (just an example), we'll be tempted to also sell because that's what everyone is doing.

I guess, most of us are guilty of those actions at one point in our trading life. And even if we have had experience the same, it doesn't mean, we will not make the same mistakes again, especially if we need the money. This is when we usually make poor decisions, because we are in a rush to sell our coins.
But if you are not in a hurry, you can strategize how to at least minimize losses. If you know you are holding a valuable coin and it dropped in the market, don't sell. Because if it has solid grounds, it will go up again. This is when most holders are vulnerable to make wrong decisions. For the fear that it will not go up and continue to decline, they will sell at a loss.

Mistakes are to be made, and we won't stop making them. I've seen the cliché being spread in the forum, that you've learned from experience and your mistakes, so you won't repeat them again. I only partly agree with that statement, trading is unpredictable, and also involves great risk. Thus, we're bound to make the same errors again at some point.

For instance, I regret selling Bitcoin in December, I could also say that two years from now, for selling a month ago, and so on.

Kelvinid

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Quote from: Shasha80 on May 16, 2021, 06:14:32 AM

Quote from: desmodiAN on May 16, 2021, 04:56:15 AM

snipped...

I agree crypto is the most profitable right now compared to investing in other assets. But that doesn't mean other assets are bad, but when
compared to crypto I prefer crypto. Moreover, this year is the best year for investing in crypto, because almost all coins have managed to rise to ATH.
Then humans have a greedy nature and are never satisfied, I believe when we succeed in achieving the wealth we want. There must be a desire
to find new things that are much more profitable, the conclusion is that we all will not stop looking for ways to make money.

A good profit with higher risk. This is a thing that encourages people to come into crypto and make trades, and they'll think about there is an easy money in trading. But above all this profit, this will be the time to test their preparations and self-control which I believe that not all of them are having these things carried during their entry.

It is a common error I think? Or that somewhat we need to do the research first before joining trading to be aware of what we gonna do as this will be the reason why many traders failed and lose everything they have.

geegaw

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Quote from: GreatArkansas on May 16, 2021, 04:39:24 AM

Quote from: desmodiAN on May 15, 2021, 05:20:28 AM

a. price went +20% up, we dont sell.

b. price went -25% down, we sell.
(....)

From what can I see here. It is just showing that a trader doesn't have a goal or plan before entering a trade. I already experienced this like in the scenario I am catching a dump and longing it without planning at all.
In that case, you entered on a trade without stop loss or a price target for that trade, which is really bad practice for a trader.

You are right, just looking at the numbers above, it is enough for us to evaluate the potential of an investor and a trader, a newcomer will always be in such a situation, even some people are stubborn with old concepts, they also often don't know how to sell at the right time and persist with greedy thoughts. Objectives should always be available, from profit to stop loss, chasing a bigger profit and a wrong guess is something many traders do but they didn't know this would bring a bad result

Shasha80

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Quote from: desmodiAN on May 16, 2021, 04:56:15 AM

Another interesting thing is, we enter crypto because we anticipate that other investments are worse.
Stocks/gold/bonds/etf, all okay, but none as independent and as future open as crypto.

So we enter because of greed 'need more' or fear 'loose my money elsewhere' or maybe just to 'try'. Seemingly endless psychological circle.
Until we reach a certain wealth level. But really, will we stop? Or will we search the next thing?

I agree crypto is the most profitable right now compared to investing in other assets. But that doesn't mean other assets are bad, but when
compared to crypto I prefer crypto. Moreover, this year is the best year for investing in crypto, because almost all coins have managed to rise to ATH.
Then humans have a greedy nature and are never satisfied, I believe when we succeed in achieving the wealth we want. There must be a desire
to find new things that are much more profitable, the conclusion is that we all will not stop looking for ways to make money.

desmodiAN

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Another interesting thing is, we enter crypto because we anticipate that other investments are worse.
Stocks/gold/bonds/etf, all okay, but none as independent and as future open as crypto.

So we enter because of greed 'need more' or fear 'loose my money elsewhere' or maybe just to 'try'. Seemingly endless psychological circle.
Until we reach a certain wealth level. But really, will we stop? Or will we search the next thing?

GreatArkansas

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Quote from: desmodiAN on May 15, 2021, 05:20:28 AM

a. price went +20% up, we dont sell.

b. price went -25% down, we sell.
(....)

From what can I see here. It is just showing that a trader doesn't have a goal or plan before entering a trade. I already experienced this like in the scenario I am catching a dump and longing it without planning at all.
In that case, you entered on a trade without stop loss or a price target for that trade, which is really bad practice for a trader.

Avantikakaur

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One of the main reasons for a bad trade is to trade out of emotion. If you open a trade without following any analysis trade will be considered a bad trade. There may be many other reasons such as opening a trade without a good idea about the market, most of the profits currently traded are with Bitcoin and other currencies.

danherbias07

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The first one had always been the problem for me.
I need the money now so I sell disregarding the recent dump or I don't really need it so I am not bothered by the price fluctuations.
It's not even trading at all, it's just holding the coin in case I need to exchange it.
Greed had not been my forte even before. But there are times greed will put you in a good position making the right choice at the right time.
There should always be target on what you want to accumulate, either it's in fiat or in crypto currencies.

Ararbermas

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Thats what other saying before making decisions with trading wherein always follow this 3 basic rules.

* must have "knowledge" how crypto really works (so before anything else educate your self first because its a big advantage for a trader to avoid risky situation.)

*control your "emotions" everytime ( especially when there's a bad news, or a situation due to some fuds, indeed at the end market always recover and makes good progress, so be smart instead..)

* and lastly change your "mind set" when it comes trading especially you're basing in long term.. Because like what i have said above there's always a time that market suffering due to some FUDS and etc.. So must be aware when market collapse, indeed it's like a roller-coaster so it really depends on us how to ride with it, always stick to the strategy that you see will work after all.. Not all the time when you see a problem you will change your plan.. (its a big mistake) having good mindset will always win remember that.

Alert31

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Yeah, I agree with you OP. Being greedy in crypto trading is not good because it was the reason why you lose. Much better to become contented as long as you gain profit then invest again if the price dump. It's just a cycle, buy and sell , but it is a bad trading if you think that you can be rich overnight through it. Also patience is very important in doing trade or investing in crypto and always don't panic if you see that market is suddenly dropped down. Always learn while doing trade and try to control your emotion because it will affect your trading.

Viscore

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Quote from: martina14 on May 15, 2021, 07:44:34 PM

Most of the people now are too greedy for thinking that in cryptocurrency industry they could easily get a good profit.

That obviously encourages them to go for trading. And the fact that some could justify they are doing good and are in profit, many were also trying to grab such opportunity.

Quote

But their mindset is wrong actually. Because in this field of business it needs skills, knowledge and wisdom for them to earn
perfectly in the end, though there is risk but even is like that if they have this thing surely the risk is very minimal.

They need more experience and they need to take the risk before they can say themselves that trading fits them. But before to try doing these, we have to prepare and get aware of the possible losses that we may end. Because I believe that learning is a process, and while you are in trading, the same thing that you are also gaining knowledge from it.

martina14

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Most of the people now are too greedy for thinking that in cryptocurrency industry they could easily get a good profit.
But their mindset is wrong actually. Because in this field of business it needs skills, knowledge and wisdom for them to earn
perfectly in the end, though there is risk but even is like that if they have this thing surely the risk is very minimal.

CaVO32

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Quote from: Ultegra134 on May 15, 2021, 03:38:48 PM

The main reasons for unsatisfactory trades is being impatience and the fear of missing out. I've come across both of them, I often found myself being impatient and selling too quickly, which lead into losing a decent profit in the long run, while I've also sold when the market was facing a crash. Sometimes, we're also affected by what others are doing, if for instance the forum is going nuts about Ethereum's crash (just an example), we'll be tempted to also sell because that's what everyone is doing.

I guess, most of us are guilty of those actions at one point in our trading life. And even if we have had experience the same, it doesn't mean, we will not make the same mistakes again, especially if we need the money. This is when we usually make poor decisions, because we are in a rush to sell our coins.
But if you are not in a hurry, you can strategize how to at least minimize losses. If you know you are holding a valuable coin and it dropped in the market, don't sell. Because if it has solid grounds, it will go up again. This is when most holders are vulnerable to make wrong decisions. For the fear that it will not go up and continue to decline, they will sell at a loss.

Topic: reasons for bad trading - page 11. (Read 1807 times)